Bucket Trucks Market share by applications and regions for 2018- 2024

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Bucket Trucks Market trends research and
projections for 2018- 2024 Global Market
Insights, Inc.
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• Global Market Scenario of Construction Industry

• The Bucket Trucks Market is expected to
  experience growth owing to the rising demand from
  the telecommunication sector. Several countries
  are focusing on increasing investments to enhance
  and refurbish their existing telecom
  infrastructure.
• Growing penetration of telecom companies in
  emerging economies and their efforts to expand
  the network are further boosting the demand for
  the boom trucks market. UK Bucket Trucks Market
  is anticipated to witness growth owing to the
  booming construction sector in the region.
• The sturdy structure of these trucks and the wide
  variety of designs available make the trucks a
  convenient option for applications in the
  telecommunication sector.
• Increasing penetration of smartphones across
  various regions coupled with the need for
  enhanced telecom infrastructure for improved
  connectivity is expected to propel the bucket
  trucks market growth

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• The presence of major rental companies such as
  Riwal, Kiloutou, and Haulotte Group will aid the
  industry growth in the country. With the
  construction sector focusing on replacing
  traditional construction techniques with modern
  advanced machinery, the bucket trucks market is
  anticipated to witness a substantial growth.
• In addition, the industry will flourish in the UK
  due to the demand from the utility and telecom
  sectors. However, geopolitical uncertainties,
  continued slowdown in the international trade,
  and the impact of the UKs announcement to leave
  the European Union may create market risks for
  several companies.
• Boom Trucks (Bucket Trucks) Market size is set to
  exceed USD 1.5 billion by 2024 according to a
  new research report by Global Market Insights,
  Inc. Increasing infrastructure investments
  coupled with the growing construction sector is
  anticipated to drive the bucket trucks market
  over the forecast timeline. Several countries in
  Asia Pacific, Europe, and the Middle East are
  undertaking large-scale projects to refurbish the
  existing infrastructure. Bucket trucks facilitate
  easy lifting of people at heights, where ladders
  cannot be utilized.

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• 360 Industry Analysis

• Increasing demand for leasing and used equipment
  is anticipated to limit the bucket truck market
  growth over the forecast timeline. In addition,
  rising cost associated with the maintenance and
  upkeep of this equipment is posing a major
  challenge to the end users.
• The maintenance of bucket trucks is a complex
  task that involves a lot of steps such as
  checking the engine, transmission, power
  steering, the condition of belts, maintenance of
  tires, checking of wheels and rims for damage,
  and battery conditions. OSHA and ANSI regulations
  require that the machine must undergo regular
  inspections to ensure that it offers optimum
  performance thereby ensuring operator safety.
• Insulated bucket trucks are gaining importance
  owing to their applications in the utility
  sector. Many regions are witnessing increasing
  government initiatives to upgrade their existing
  power grids.

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• Population growth, environmental impacts, and
  urbanization have driven the need for smart and
  sustainable infrastructure solutions. Countries
  including India and China are preferring reliable
  lifting equipment over the traditional
  construction techniques to ensure operator
  safety. Major construction projects such as Al
  Maktoum Airport, Dubai Beijing Airport, China,
  and the industrial city project Jubail II in
  Saudi Arabia will propel the boom trucks market
  growth.

• Competitive Analysis

Key players operating in the bucket trucks market
include Aichi Corporation, Axion Lift, Manitex
International Inc., Versalift, Terex Corporation,
Palfinger AG, Socage S.R.L, Altec Corporation and
CTE Group. Companies are trying to expand their
regional presence by acquiring smaller companies
and expanding their product portfolio. Stringent
regulations pertaining to operator safety are
compelling manufacturers in the bucket trucks
market to enhance their product portfolio by
incorporating advanced safety measures.
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